Your monthly income needs to be at least $425 more than your monthly rent or mortgage payment to get the Capital One Quicksilver Cash Rewards for Good Credit card, according to Capital One. The higher your income is above the minimum, the more likely you are to be approved. Your income will also play a big part in determining your credit limit, with higher incomes generally leading to higher limits.
Keep in mind that the income you list on a credit card application doesn’t necessarily have to come from a job. Capital One will also consider things like Social Security benefits, unemployment insurance, alimony payments, pension distributions, investment returns and more.
In addition, if you are at least 21 years old, you may include household income on your application. If you are 18-20 years old, you may only include your own income.
This answer was first published on 08/25/23 and it was last updated on 01/08/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Your monthly income needs to be at least $425 more than your monthly rent or mortgage payment to get the Capital One Quicksilver Cash Rewards for Good Credit card, according to Capital One. The higher your income is above the minimum, the more likely you are to be approved.
Does Capital One credit card verify income? ›
Two years worth of tax returns plus all schedules are required to verify this income.
Is it hard to get approved for Capital One Quicksilver one? ›
It is not difficult to be approved for the Capital One QuicksilverOne Cash Rewards Credit Card. As long as your credit score is at least 580, you qualify for the card (though, again, a qualifying credit score doesn't ensure you'll be approved).
What is the minimum credit limit for Quicksilver Rewards for good credit? ›
The Quicksilver One card is for rebuilding credit where the Quicksilver card is for those with good credit. The minimum starting limit for the Quicksilver is $1000, and there's no annual fee. Both cards look almost identical.
What credit score do you need for a Capital One Quicksilver cash Rewards card? ›
The Capital One Quicksilver credit score requirement is 700+, which means you need good to excellent credit to get this card. Capital One will also consider your income and debt among others when making approval decisions for the Capital One Quicksilver card.
How much should I put for annual income for a credit card? ›
A good annual income for a credit card is more than $39,000 for a single individual or $63,000 for a household. Anything lower than that is below the median yearly earnings for Americans. However, there's no official minimum income amount required for credit card approval in general.
How to prove income for credit card? ›
Card issuers sometimes ask you to verify your income, which you may be able to do by submitting copies of income-related documents, such as a tax return or pay stub.
What income do I need for Capital One Quicksilver? ›
Your monthly income needs to be at least $425 more than your monthly rent or mortgage payment to get the Capital One Quicksilver Cash Rewards for Good Credit card, according to Capital One. The higher your income is above the minimum, the more likely you are to be approved.
Why did Capital One Quicksilver deny me? ›
Your Capital One Quicksilver application can be denied for multiple reasons. If your credit history is good but not very long or if you submitted more than three Capital One credit card applications within a 30-day period, or maybe even having a bankruptcy or tax lien on your credit report.
What's the easiest Capital One card to get approved for? ›
Capital One credit cards for fair credit include QuicksilverOne, Quicksilver Secured, and the Platinum Mastercard. Your credit score is only one of the many factors that determine your credit approval odds. The best way to know if you'll qualify is to get pre-approved. It's quick, easy and won't hurt your score.
Bottom Line. If you have excellent credit, the Capital One Quicksilver Cash Rewards Credit Card is the clear winner here. It's the same as the Capital One QuicksilverOne Cash Rewards Credit Card but with no annual fee (rates & fees), a welcome bonus and better benefits.
What is Capital One's highest credit limit? ›
Capital One Venture Rewards Credit Card
Highest reported credit limit: $58,000, according to a member on the myFICO forums. Sign-up bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first three months from account opening.
Does Quicksilver automatically increase credit limit? ›
The Capital One QuicksilverOne card may offer an automatic credit limit increase if Capital One's regular review of your account shows a history of on-time payments and low debt. An automatic credit limit increase involves a soft pull, which does not affect your credit score.
Is it hard to get approved for Capital One Quicksilver? ›
You'll need good-to-excellent credit (a score of at least 690 on the FICO scale) to qualify for the Capital One Quicksilver Cash Rewards Credit Card. Generally, cards that require higher credit scores tend to come with better features than those that require scores on the lower end of the scale.
Which is better, platinum or quicksilver? ›
Is Capital One Platinum or Quicksilver card better? If you can get approved for both, the Capital One Quicksilver card is better than the Platinum card. The Quicksilver card will give you a welcome bonus, 0% APR for the first 15 months and 1.5% cash back.
Is Capital One Quicksilver good for building credit? ›
The Quick Silver card is good for people with good credit just spend what you can pay back ASP! So it helps build your credit rating up by keeping a 0 balance or below 30% plus you don't pay any interest which is high but understand.
Does Capital One verify employment? ›
Verify Capital One Employees
The process is simple and automated, and most employees are verified within 24 hours.
Do credit card companies actually check your income? ›
Will a credit card company verify your income? Although a credit card company could ask you to provide income verification, this doesn't happen often. In most cases, the credit card company will take your word for it and use your reported income.
What happens if you put wrong income on a credit card application? ›
It's technically fraud to knowingly provide a higher income than what you make on a credit card application. If you accidentally provided a lower income, that could affect your approval odds for the card or the credit limit you receive.
Does Credit One check income? ›
Credit One does not disclose specific minimum income requirements for its credit cards, but the higher your income is, the more likely you are to be approved.
